[Blockchain Today Reporter Seo-yeon Jang] A new survey revealed that the lack of knowledge and understanding of cryptocurrencies is the biggest obstacle to wider adoption.
According to Cointelegraph reports on the 27th (local time), The Economist Intelligence Unit, a research and analysis division of The Economist Group, recently released a new report called Digitality 2021.
This study was commissioned by Crypto.com, a major payment and cryptocurrency platform, and includes a survey of 3,053 consumers conducted from February to March 2021.
According to the survey results, 51% of respondents said that the biggest obstacle to the adoption of open source cryptocurrency technologies such as Bitcoin and Ethereum is lack of knowledge, and 34% of respondents cited security as a major obstacle. And 29% said they had difficulty in determining where to buy cryptocurrency.
Regarding the acceptance of cryptocurrency by institutional investors and corporate treasury, 47% of respondents said that overall market confidence or understanding of digital currencies is the biggest obstacle. While 32% of survey respondents cited cryptocurrency regulations as a major obstacle to broadening institutional acceptance, 43% and 36% responded that financial market structure and asset volatility were the biggest obstacles, respectively. In addition, 55% of respondents said they knew this even though they did not own or use cryptocurrency at all.
“As more people adopt and have access to digital wallets, access and investment in cryptocurrency continues to expand,” said Mathew McDermott, director of digital assets at Goldman Sachs, in the report.
According to a recent survey by Gemini cryptocurrency exchange, nearly two-thirds of American adults have expressed interest in learning more about cryptocurrencies or holding them in the near future.
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